I like to buy a company any fool can manage because eventually one will.

Owning stocks is like having children - don't get involved with more than you can handle.

The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.

Everyone has the brain power to make money in stocks. Not everyone has the stomach.

Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.

An important key to investing is to remember that stocks are not lottery tickets.